PAREX ENTERS IN VIETNAM
Issy-les-Moulineaux, December 5th 2018 – PAREX is pleased to announce the acquisition of a controlling interest in the shares of A&P Construction Chemical JSC. Known locally under its brand “Mova”, it was founded in 2007 by the A&P group. Based in Hanoi, it has currently 55 employees and an integrated drymix production facility.
Mova is a rapidly growing brand in mortars, waterproofing solutions and tile-adhesives. It services contractors and distributors, with a market leading position in the North of the country. Vietnam is one of the fastest growing markets in Asia and globally within the top 5 consumers of Ceramic tiles.
“We are delighted to partner with A&P group Chairman Ms. Pham Thi Lan Anh, a lady with considerable knowledge and experience in the Vietnamese construction industry. With the future supported by PAREX technology and expertise, our expectations are for Mova to grow very quickly. We look forward to developing a leading position, spanning the entire Vietnamese marketplace”, says Eric Bergé, PAREX Chief Executive Officer.
We welcome Mova’s team in the PAREX family.
The consideration for this acquisition is not disclosed.